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Industry Research : Figures Show BPO Contracts on the Rise with Asia Pacific Suppliers in the Lead
Business process outsourcing (BPO) contracts will continue to increase with suppliers in emerging economies in Asia/Pacific to the fore as multinational companies return to a period of growth.
According to the latest Gartner research, sales of business process outsourcing (BPO) from suppliers based in Asia/Pacific will increase 17.9% in 2011 compared to the global average of 6.3%. Western European BPO sales will increase above the global average at 8.9% in 2011, while North American BPO suppliers will see sales increase 3.8%.
Gartner says the combination of processes and technology, faster time-to-market and improved quality of service makes suppliers from emerging economies in Asia/Pacific attractive.
Most growth in the Asia/Pacific region will come from suppliers based in India, China and Australia, where BPO services for HR, finance and accounts, banking and financial services, billing services and supply management will be in high demand in 2015
Cathy Tornbohm, research vice-president at Gartner, said: "Emerging markets are faring far better and, generally, multinational companies continue to look to BPO as a means both to reduce costs and to buoy their business operations during the protracted return to a growth environment. We also see an increase in transaction volume, especially in payroll, recruiting, accounts payable, and customer data analytics and knowledge process outsourcing (KPO) activities."
Gartner said BPO services in continental Europe are held back by language requirements, labour laws and a lack of labour arbitrage benefits.
BPO and IT services are increasingly becoming available from a single source.
Posted by Veronica Silva Cusi, news correspondent
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Published: Monday, August 15, 2011